Icelandair Group hf.: Financing of three Boeing 737 MAX aircraft

Icelandair has entered into agreements with Aviation Capital Group (ACG) regarding the financing of three Boeing 737 MAX aircraft. This is a sale and leaseback of two Boeing 737 MAX8 aircraft and a finance lease of one Boeing 737 MAX9 aircraft.  The aircraft are scheduled for delivery in December 2021 and January 2022. As previously announced, Icelandair had backstop financing in place for these three aircraft which will not be exercised. Following this transaction, Icelandair has completed financing of all the twelve 737 MAX aircraft that were originally ordered from Boeing in 2013.

Bogi Nils Bogason, President & CEO of Icelandair Group:
„Icelandair is delighted to team up with ACG, a long-lasting business partner, on this transaction. The campaign we ran for this financing resulted in favorable terms, that both show the faith that financiers have in the value and the opportunities of the aircraft, as well as in the strength of Icelandair and its business model.“